March 5, 2013 in Business, Nation/World

Dow closes at all-time high, beating 2007 record

Associated Press
 

NEW YORK — The Dow is closing at a record, beating the previous high it set in October 2007, before the financial crisis and the Great Recession.

The Dow Jones industrial average rose 126 points, or 1 percent, to 14,253 today, beating its previous record by 89 points.

The index is up nearly 9 percent this year, capping a remarkable comeback. The Dow has more than doubled since hitting a 12-year low in March 2009.

The Standard & Poor’s 500 index rose 14 points, or 1 percent, to 1,539. The S&P is also within striking distance of its record close of 1,565.

The Nasdaq gained 42 points, or 1.3 percent, to 3,224.

Three stocks rose for every one that fell on the New York Stock Exchange. Volume was light at 3.3 billion shares.

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